Hello my friends, welcome back! Finally here! The dollar has suffered the worst week of the year after FED’s plan to revive U.S. economy, yet could be put to trial later today, when Tim Geithner treasury secretary, finally announces the key details of the banking rescue plan that would pump $1.15 trillion more into the economy, part of it through buying U.S. Treasury bonds. FED success could halt the spiral towards deflation and at the same time, lead to a slow rebound in stock markets, sending investors to high-yielding and greenback slowly down. Yet at this moment, only Gbp is looking ready to gain more ground against greenback at the moment, while Euro and Swiss Franc remain in consolidation mode, and Japanese Yen is loosing ground quickly. Today we have in the U.S. the Existing home sales report, so let’s see if that can push Euro out of actual range.
This is today’s calendar:
http://www.fxstreet.com/fundamental/economic-calendar/
Have a great day!
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